Biocitech Park, Romainville (France), January 23rd, 2008 — Endotis Pharma, the specialty pharma company dedicated to the discovery and development of small-glyco drugs (SGDs) for applications in thrombosis and oncology, today announced the completion of a €25-million Series B funding round. With
the Wellcome Trust (UK) as lead investor, the international funding round also attracted Endeavour Vision (Switzerland) and NIF SMBC Ventures (Japan), in addition to Sofinnova Partners (France), Endotis' longstanding investor.The funds raised will be used to finance the development of:
- Endotis Pharma's portfolio of preclinical and clinical-stage compounds in-licensed from Organon/Schering Plough: EP42675 (an anticoagulant in phase I), EP217609 (the neutralizable form of EP42675) and EP224283 (a neutralizable antithrombotic currently in preclinical development). These oligosaccharides-based compounds will be developed for the prevention of arterial thrombosis.
- The company's in-house discovery programmes — notably EP37 (dedicated to the oral prevention and treatment of venous and arterial thromboses) and EP8000 programme (focused on compounds with activity against a number of biological factors involved in angiogenesis, tumour growth and metastasis).
"Endotis is developing a unique portfolio of low-risk compounds for the prevention and treatment of arterial and venous thrombosis in validated indications, along with a novel cancer drug discovery engine. We believe in the company’s technology, commercial prospects and management team", emphasized Rafaèle Tordjman, Partner at Sofinnova Partners.
"We are delighted to have invested in Endotis Pharma — the company has a unique and very promising portfolio in the field of coagulation and thrombosis, and so we are very keen to be associated with a team known for its excellence and ability to deliver", commented Daniel Schulman, Healthcare Investment Manager at the Wellcome Trust.
About Endotis Pharma (www.endotis.com)
Incorporated in 2003, Endotis Pharma is a specialty pharma company dedicated to the discovery and development of small-glyco drugs (SGDs) for applications in thrombosis and oncology. These SGDs are analogues of glycosaminoglycans, the core field of expertise of Endotis' scientists. Proof of concept has already been obtained with oligosaccharides in thrombosis (venous and arterial cardiovascular diseases) and oncology, another promising therapeutic field. Endotis Pharma has built a well-balanced portfolio of pre-clinical and clinical stage compounds (either in-licensed or generated by the company's own R&D programmes) and currently has 28 employees (including 14 PhDs/MDs) based in Paris and Lille (France). To date, Endotis Pharma has raised a total of €34 million.
About Sofinnova Partners: Paris-based Sofinnova Partners is one of Europe's leading independent venture capital firms. It invests in ambitious start-ups and early-stage IT or life science companies in France, other European countries and the United States. Sofinnova Partners' investment ticket is at least half a million euros and can go as high as €20 million after several rounds of funding. The company essentially targets companies capable of attracting pan-European consortia where it can act as lead or co-lead investor, play an active role as a Board member and deliver added value to the management team. Sofinnova Partners generally invests in first or second rounds as lead or co-lead investor, in collaboration with the leading European, American and Asian funds (primarily in Great Britain, Switzerland, Germany, Scandinavia and the Benelux).
About The Wellcome Trust: The Wellcome Trust is the largest charity in the UK and the second largest medical research charity in the world. It funds innovative biomedical research, in the UK and internationally, spending around £500 million each year to support the brightest scientists with the best ideas. The Wellcome Trust supports public debate about biomedical research and its impact on health and wellbeing.
Website: www.wellcome.ac.uk
About Endeavour Vision: Endeavour Vision combines a team of experienced venture capital professionals who have collectively invested in 65 companies in 12 countries in both the life sciences and information/communication technologies since 1989. The firm invests across Europe in early-stage companies which have the potential to become global leaders. Past life sciences investments by Endeavour Vision's professionals include Actelion (SWX: ATLN), Novimmune, Axovan (acquired by Actelion), Kuros Biosurgery, Endoart (acquired by Allergan, NYSE: AGN) and Molecular Partners AG.
About NIF SMBC Ventures Co., Ltd: NIF Ventures (a member of Daiwa Securities Group) and SMBC Capital (a member of Sumitomo Mitsui Financial Group) merged on October 1, 2005 to form NIF SMBC Ventures. Both were well-established brands within the venture capital industry, being involved in listing various companies. After the merger, having grown out of a securities firm and a bank, NIF SMBC Ventures is a venture capital firm that maximizes use of its broad business network, longstanding experience and know-how while implementing investment operations.
Disclaimer: the development of new drug technologies is difficult, erratic and unpredictable. Endotis Pharma’s forecasts and future economic performance depend on research that has yet to be performed and on a number of other factors. The company's future economic performance may differ significantly from that currently forecast.
Source: Endotis Pharma
